HES Price Prediction Next Week
Technical Analysis
Based on recent price action and technical indicators, HES shows a bearish trend. The stock has been under pressure due to the ongoing arbitration dispute with Exxon Mobil regarding the Guyana project. The dispute threatens to delay Chevron's $53 billion acquisition of Hess.
News Impact
- Negative sentiment surrounds HES due to the unresolved arbitration battle with Exxon Mobil over Guyana assets
- Guyana's government is awaiting briefing from Exxon about offshore gas development plans by end of March
- The uncertainty around the Chevron acquisition and Guyana projects creates downward pressure
Price Forecast (Next Trading Week) Target Prices:
- Resistance: $148
- Support: $142
- Most Likely Range: $143-$146
Trading Recommendation SELL with entry point at $146.50
- Set stop loss at $148.50
- First target: $143
- Second target: $142
The recommendation is based on:
- Ongoing legal uncertainties
- Technical indicators showing bearish momentum
- Negative news sentiment around the Guyana dispute
- Broader market volatility affecting energy sector
HES Similar Chart Price Prediction
The price of HES is predicted to go up 0.24%, based on the high correlation periods with PEP. The similarity of these two price pattern on the periods is 90.15%.
HES
PEP
Up: 0.24%Similarity: 90.15%
HES Revenue Forecast
HES EPS Forecast
HES FAQs
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HES VS S&P500
The Stabroek block (Guyana), in which Hess has a 30% stake, is a huge resource, with at least 11 billion barrels of oil equivalent recoverable. It will account for 2% of global oil supply by 2030.
Due to the scale of prize and supported by favorable fiscal terms, Guyana supply costs are well below the global margin cost threshold and competitive with the best shale resources.
Hess' activity in Guyana provides geographic diversification and insulates it from domestic issues (like infrastructure constraints or the threat of antifracking regulations).
HES Analyst's Forecast
Roger Read
Wells Fargo
Hold → Buy
2024-12-09
Price Target
$151 → $193
Upside
+35.49%
Wells Fargo analyst Roger Read upgraded Hess Corp. (HES) to Overweight from Equal Weight with a price target of $193, up from $151. The firm says Shell (SHEL) and Hess are its 2025 top picks within exploration and production. Despite a lackluster oil price forecast, Wells expects the oil and gas sector will deliver positive returns in 2025 via spending discipline, the analyst tells investors in a research note. For Hess, the firm sees two distinct paths to value. First, the merger with Chevron (CVX) closes, and second, the merger doesn't happen and Hess reverts to an independent company valued off its "unique" Guyana asset.
Scott Gruber
Citigroup
Hold
2024-12-06
Price Target
$145 → $163
Upside
+15.17%
Biju Perincheril
Susquehanna
Hold
2024-10-18
Price Target
$149 → $154
Upside
+10.46%
